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Ethics in Action

In: Business and Management

Submitted By Molly2013
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How do OMM activities create value and a competitive edge at the input, operations, and output stages?

A company can add value and a competitive edge at the input stage by choosing the best raw materials possible, the best quality for the best price. A competitor may choose a higher quality raw material but if it costs too much in the end the consumer may not find the value in it. The text uses the example of Amazon selecting the best books for its library.
At the operations stage, the business must effectively produce the product by the most efficient means but also maintaining the highest quality. In this stage, the text references McDonalds “a few years ago, McDonalds managed to create a fast-cooking burger machine and installed it in several stores” (Axia College, 2007, p. 376). The problem was the burgers didn’t taste that great. Cheap raw products may not be the best investment if the product in the end isn’t desirable. McDonalds ended up scrapping the machine.
Finally, the output stage is detrimental to a business. Getting the product to the consumers when and where they want it is key. Consumers want quality and affordability but they also want convenience. They want to be able to pull through that McDonalds drive thru and quickly grab a great tasting hamburger. Amazon customers want to be able to conveniently pick up a book. Amazon has responded to customers’ desire for convenience by partnering with the Kindle, an online reading tool. Now customers can download books to a more convenient venue.

What are the three types of inventory costs, and why is it important for a company to reduce its inventory-holding costs?

Inventory-holding costs are incurred at all three levels of processing. It’s the amount of resources stored at each stage. Ultimately, this is money a business has invested but hasn’t…...

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